Self-Sealing Tire Market | How Top Companies are Strengthening Its Business during the COVID-19 Pandemic
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COVID-19 scenario analysis:
• With COVID-19 bringing the automotive production to halt, the tire industry is anticipated to face a loss in capital generation.
• Re-starting manufacturing would take time and would take a long duration to stabilize the market disturbed due the pandemic.
• Besides, the stoppage of production has led to accumulation of raw materials, semi-finished goods and finished goods.
• Additionally, till the lockdown imposed by the government continues, the trade of natural rubber is at a standstill.
• Moreover, due to shortage of natural rubber due to disrupted supply chain, the demand for would rise and prices could further increase, thereby hampering self-sealing tire market.
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Top impacting factors: market scenario analysis, trends, drivers, and impact analysis
The demand for self-sealing tires is anticipated to catalyze with rise in sales for vehicles. Moreover, the rising safety demand from consumers is fueling the market growth. Besides, self-sealing don’t require a specialized rim, or special equipment to mount them. Additionally, self-sealing tires saves time required to repair the immediate puncture, thereby propelling the market growth. However, the cost of self-sealing tires being higher than conventional tires is hampering the market growth. Furthermore, ability of self-sealing tires to handle larger punctures and keeping the vehicle more stable even when the air is lost, is proliferating the market.
Ecofriendly self-sealing tires to flourish the market
Ever since the introduction of self-sealing tires in automotive industry, the daily commuters are adopting self-sealing tires as it saves the time of puncture. Moreover, the automakers are constantly focusing on development of the tires considering its rising demand. Likewise, the development of ecofriendly self-sealing tires has accelerated as it delivers measurable benefits for the environment. In 2019, Ford unveiled its Ford Explorer with self-sealing tires from Michelin. Besides, the tires are environmentally-friendly as it utilizes natural rubber sealant that has no rolling resistance and maintains all other tire performances.
Rising aftermarket sales of self-sealing tires propelling the market growth
The self-sealing tires offers a wide range of benefits. Besides, self-sealing tires eliminates the requirement of special equipment for mounting. Although, fitment of tire pressure monitoring system warns the driver of gradual pressure loss in self-sealing tires,it could be installed in vehicles that aren’t equipped with tire pressure monitoring system. Owing to these factors, the aftermarket sales are sky-rocketing. For instance, in 2019, Continental achieved the milestone of producing 15 million self-sealing tires.
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Key benefits of the report:
• This study presents the analytical depiction of the Self-Sealing Tireindustry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed Self-Sealing Tire market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the self-sealing tire market research report:
• Which are the leading market players active in the self-sealing tire market?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the market?
• What are the projections for the future that would help in taking further strategic steps?
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